Now, of course, we're going to talk more about this later on.

But when it comes to risk management, though, parameters are difficult not to apply, you know,

how much should I risk, et cetera, et cetera.

And obviously, people usually come to these conclusions based on research and so on and so forth. How do you just sort of broadly

frame that in terms of just the parameter side of things, not exactly the risk management.

We'll talk about that a little bit later. Well, yeah, but risk management is pretty much

common sense. And everybody's risk management is the same. Anybody who's, you know, but risk management is pretty much common sense. And everybody's risk management is the same.

Anybody who's, you know, the risk management is driven by the realities of the business.

And to some extent, of course, it's a matter of choice.

In other words, if you, in other words, I've decided to to operate in a certain so we say uh level of leverage

and you find that the level i operate in is probably towards the high end among cta's uh if you get

much higher than that then you're out of business but most ctaes as they get as they get big they

tend to they tend to cut their leverage.

And so the typical CTA is probably about half of what I use.

But again, that to me is pretty standard.

In other words, I can just glance at somebody's performance record or whatever, just basic stats.

And I know what region of risk or of exposure that

they're operating in. And if you look at those people, you know, the people who are established

and have been around for a while, they're all in the same ballpark. You look at me versus Don

or, you know, various other people with similar risk, you know,

with similar, so we say standard deviations, monthly standard deviations or similar drawdowns

or whatever, you know, we're all doing the same thing. We don't have got about the same

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